JPMorgan Chase Introduces High-End CD with 6% Interest Rate for $5 Million Minimum: WSJ

JPMorgan Chase is offering a 6% interest rate on a high-end certificate of deposit (CD) product for a minimum deposit of $5 million, with a maximum deposit level of $100 million. The catch is that the money must come from outside JPMorgan Chase to attract fresh capital into the bank. This offering is part of a strategy by banks to offer higher interest rates to draw in new wealth-management deposits, as traditional savings accounts offer lower rates. JPMorgan Chase has been offering 5% to retail banking customers with a minimum of $100,000, while customers with less than $100,000 earn 4%.